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Written by: Bence András R. Updated: Dec 2022
Expert verified
Recommended for
  • beginners
Trusted broker
Regulated by top-tier financial authorities
Popularity
1,093 people chose this broker in the last 6 months
BrokerChooser Score
4.6/5

Passfolio review summary

Passfolio is a US-based commission-free stockbroker focusing on Brazil. Passfolio offers commission-free trading above a value of $5 in ETFs, stocks and REITs. The broker has an outstanding mobile platform, the account opening is lightning fast and predominantly smooth. It is a good choice for beginner investors. On the downside, Passfolio focuses solely on the US market and the product portfolio is limited. The process of depositing funds is cumbersome, withdrawal is not free, and there is no desktop trading platform. BrokerChooser gave Passfolio a 4.6/5 rating based on analyzing 500+ criteria and testing via opening a live account.

You can't open an account at Passfolio if you live in United States. See the best alternative available in your country.

Passfolio pros and cons

Pros Cons
Free US stock and ETF trading Limited product portfolio focusing on US markets
Great mobile platform Deposit is not user-friendly
Fast and fully digital account opening Missing desktop platform

Passfolio main highlights

🗺️ Country of regulation USA
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1 day
🎮 Demo account provided No
🛍️ Products offered Stock, ETF, Crypto
To read much more details about the broker's services and features, expand on the sections below.

Passfolio review
Fees

4.2
Passfolio has attractive fees, as trading in all assets except for cryptos is free of charge above a trade value of $5. On the other hand, most withdrawal options carry a fee.
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Passfolio review
Account opening

5.0
On mobile, the account opening at Passfolio is super fast and fully digital, with validation in just 15 minutes. On the other hand, there may be some issues when validating via desktop.
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Passfolio review
Deposit and withdrawal

2.8
Passfolio's deposit functions are numerous and most of them come free of charge. On the other hand, withdrawal is not free and the process of depositing funds is complicated.
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Passfolio review
Web trading platform

3.8
Passfolio's new web trading platform is still in Beta. It is user-friendly and has two-factor SMS verification. However, it is not customizable, has only a few order types and no price alerts.
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Passfolio review
Mobile trading platform

4.8
Passfolio's mobile platform boasts a clear-cut design and its search functions are also solid. What's missing is a wider selection of order types.
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Passfolio review
Desktop trading platform

Passfolio does not offer a desktop trading platform.
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Passfolio review
Markets and products

2.2
Passfolio offers stocks, ETFs, REITs and ADRs traded on US stock exchanges, as well as cryptos. Popular assets such as mutual funds, bonds and options are not available.
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Passfolio review
Research

2.3
Passfolio's charting interface is pleasing to the eye but limited in functionality. Extracting any data other than some basic info (i.e. opening/closing prices) is virtually impossible.
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Passfolio review
Customer service

4.9
Passfolio clients can contact the broker via all three customary channels. The email service is very fast, the live chat is somewhat slower, while phone support is virtually nonexistent.
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Passfolio review
Education

2.5
Passfolio's education services are limited and not varied. There are some high-quality educational articles and a YouTube channel with market updates in Portuguese.
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Passfolio review
Safety

Passfolio is regulated by the top-tier SEC and offers high-level protection. However, it does not have a banking license and is not listed on a stock exchange.
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Passfolio review
Bottom line

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Passfolio review
FAQ

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Author of this review

Bence András Rózsa

Author of this review

Bence is an experienced broker analyst. Having an MSc in international economy and finance, he focuses on equities, cryptos and newcomer financial services. He also has 2+ years of experience within the brokerage industry, specializing in stock and CFD/forex brokers, crypto providers and robo-advisors.

Bence András Rózsa

Broker Analyst

Bence is an experienced broker analyst. Having an MSc in international economy and finance, he focuses on equities, cryptos and newcomer financial services. He also has 2+ years of experience within the brokerage industry, specializing in stock and CFD/forex brokers, crypto providers and robo-advisors.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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